Canadian province Ontario is investing in disruptive technology to deploy new business networking services.
In connection with that, the region is partnering with Sandvine, an Ontario-based global leader in networking equipment.
The partnership is meant to support the development of emerging, cloud-based technologies that will create 75 new jobs and retain 267 existing jobs in Waterloo, Ontario, and strengthen the province’s reputation as a knowledge-economy hub.
Ontario Premier Kathleen Wynne announced that the government is providing a grant of up to $15 million through the Jobs and Prosperity Fund to support Sandvine’s research and development project.
According to Sandvine, the total eligible cost of the project is $169 million over seven years.
“Sandvine is a true Ontario success story, and our government is pleased to support the next phase of its growth, which will help create high-quality jobs. By partnering with companies like Sandvine, we are helping to boost Ontario’s dynamic ICT sector and positioning the province for growth now and for years to come, “said Wynne.